Dordrecht, The Netherlands — Oryx Stainless PGI Co. Ltd. (Bangkok) has entered into an acquisition agreement with Thailand based Thai Metal Recycling Ltd. on the basis of which Oryx Stainless PGI will continue the trustful business relationships that Thai Metal Recycling has successfully built over the past years.
The acquisition is part of the implementation of Oryx Stainless’ international growth strategy and will increase its market share in one of the fastest growing markets for the recycling of stainless steel and its alloys.
„With the acquisition of Thai Metal Recycling in the fourth quarter of 2016, we took a significant growth step for our Asian business area. In the dynamic market environment of South East Asia, we are further strengthening our position to the benefit of our customers, which will profit from the high quality standard of our products. The agreed transaction will provide a valuable foundation for the continued growth of Oryx Stainless“, commented Tobias Kämmer, CEO of Oryx Stainless Holding.
Oryx Stainless PGI, a company of the Oryx Stainless Group, is a leading stainless steel recycling company in South East Asia. It is a joint venture of Oryx Stainless Group, one of the leading worldwide stainless steel recycling groups headquartered in The Netherlands and the PGI Group, Dubai.
Source: Oryx Stainless Group